BT expands Wrap Essentials menu
BT Financial Grouphas expanded the investment menu for its recently launched low-cost platform, Wrap Essentials, adding 12 new funds across value, growth and core styles.
BT’s head of wrap Mark Smith says the newly added funds were selected in consultation with dealer groups and advisers, and were the most popular funds on the BT Wrap platform.
The new investment options include theCredit SuisseInternational Share,PlatinumInternational, andUBSInternational Share funds from the international equities sector, and theInvestors MutualAustralian Share,SchroderAustralian Share and UBS Australian Share funds from the Australian equities sector.
The other funds are theBarclaysDiversified Growth, Schroder Hybrid Securities, UBS Defensive Investment, APN Property for Income, Schroder Balanced and UBS Diversified Fixed Income funds.
The expanded line-up means Wrap Essentials now provides 28 externally managed funds, including the recently launched BT Partner Funds, and seven proprietary BT funds.
Smith says the expanded selection will save advisers time and money by being able to manage all client investments through the one platform, with no need for additional training, processes or infrastructure.
He says that in addition to offering advisers a competitive trail of up to 60 basis points, the new products provide advisers with greater investment choice and flexibility across more asset classes.
Wrap Essentials was launched in May of this year, and is targeted at lower-net-worth clients with balances from $5,000 to invest.
It works off the back of the existing BT Private Label wrap and was the first major change to the platform in nearly two years, when it was repackaged for offering to third party advisory groups as BT Wrap.
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